City of Philadelphia - File #: 040600

• File #: 040600
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 5/27/2004
• In control: Committee on Finance
• Final action: 6/21/2004
• Title: Constituting the Eighteenth Supplemental Ordinance to the General Gas Works Revenue Bond Ordinance of 1975 (the "1975 General Ordinance"); authorizing the Mayor, the City Controller and the City Solicitor, or a majority of them, to sell, either at public or private sale, Gas Works Revenue Bonds, Eighteenth Series (1975 General Ordinance), of the City of Philadelphia, in one or more subseries (the "Eighteenth Series Bonds") to be issued to pay the cost of refunding or redeeming all or a portion of certain outstanding Gas Works Revenue Bonds and other Project Costs, as hereinafter more particularly described, and authorizing the application of proceeds of the Eighteenth Series Bonds for such purposes; authorizing the City of Philadelphia to obtain credit enhancement for the Eighteenth Series Bonds; authorizing the City of Philadelphia to enter into swap agreements or exchange agreements with respect to the Eighteenth Series Bonds; determining the sufficiency of Project Revenues; covenan...
• Sponsors: Councilmember Blackwell
• Indexes: PHILADELPHIA GAS WORKS

Date	Ver.	Action By	Action	Result	Tally
7/1/2004	0	MAYOR	SIGNED
6/21/2004	0	CITY COUNCIL	READ
6/21/2004	0	CITY COUNCIL	PASSED	Pass	17:0
6/10/2004	0	Committee on Finance	HEARING HELD
6/10/2004	0	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
6/10/2004	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/10/2004	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
6/10/2004	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
6/9/2004	0	Committee on Finance	HEARING NOTICES SENT
6/9/2004	0	Committee on Finance	HEARING HELD
6/9/2004	0	Committee on Finance	RECESSED
5/27/2004	0	CITY COUNCIL	Referred
5/27/2004	0	CITY COUNCIL	Introduced	Pass

Title
Constituting the Eighteenth Supplemental Ordinance to the General Gas Works Revenue Bond Ordinance of 1975 (the "1975 General Ordinance"); authorizing the Mayor, the City Controller and the City Solicitor, or a majority of them, to sell, either at public or private sale, Gas Works Revenue Bonds, Eighteenth Series (1975 General Ordinance), of the City of Philadelphia, in one or more subseries (the "Eighteenth Series Bonds") to be issued to pay the cost of refunding or redeeming all or a portion of certain outstanding Gas Works Revenue Bonds and other Project Costs, as hereinafter more particularly described, and authorizing the application of proceeds of the Eighteenth Series Bonds for such purposes; authorizing the City of Philadelphia to obtain credit enhancement for the Eighteenth Series Bonds; authorizing the City of Philadelphia to enter into swap agreements or exchange agreements with respect to the Eighteenth Series Bonds; determining the sufficiency of Project Revenues; covenanting the separation of Gas Works revenue accounts and proceeds of the Eighteenth Series Bonds from general accounts of the City of Philadelphia; covenanting the payment of interest and principal on and specifying the purpose of the Eighteenth Series Bonds; authorizing covenants and actions in order that the Eighteenth Series Bonds shall not be arbitrage bonds; authorizing the Eighteenth Series Bonds to be issued in book-entry form and providing book-entry provisions to apply in such case; and providing that this Ordinance is supplemental to the 1975 General Ordinance and that the provisions of the 1975 General Ordinance to the extent not modified, amended or superseded by this Ordinance, are applicable.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. The Mayor, the City Controller and the City Solicitor (the "Bond Committee"), or a majority of them, are hereby authorized, on behalf of the City of Philadelphia (the "City"), to borrow, by the iss...